Amortization Schedule

Amount of Loan
Annual Interest Rate (in percent)
Length of Loan (in months)

Total Payments
$1,012.50
Total Interest
$12.50
Number of Monthly Payments
2
Monthly Payment
$506.25
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$8.33$497.93$502.07$8.33$506.25
2$502.07$4.18$502.07$-0.00$12.50$1,012.50